Quote:
Originally Posted by Unregistered
That was my view as well be4 i saw such a retrenchment exercise for myself .
Reality is - its not usually the bad performers. I have seen folks let go for a host of reasons ie they are the rm for a sector that the bank wants to reduce exposure to, they were recently promoted (hence last in first out), they just moved to another dept/country within the same bank, they just joined the bank, they are too expensive , they are mid to late 40s, they hv made some high lvl enemies etc.
So its quite real and quite a scary time.
|
Fact is you can get retrenched in any job, even civil service and stat boards. Some taxi drivers are also asked (forced) to quit driving!
The risk is about the same, just that finance is a bigger target for people to talk about.
Given this risk of getting the sack, it's always better to be in finance cos it pays well.
When the semicon industry fired people by the thousands, no one bat an eyelid.